Thursday, May 24, 2012

Yesterday, James Pethokoukis of the American Enterprise Institute delivered a major-league rhetorical beat-down to some Obama drone named Rex Nutting. MarketWatch had somehow allowed Nutting to publish one of the more preposterous press releases from David Axelrod ever seen on a business news site.

The gist of the story is this. Obama is running from his spending record, using manipulated statistics to assign his block-buster "shovel-ready" Stimulus package to... wait for it... George W. Bush. Did Nancy Pelosi, Harry Reid and George W. Bush pass the Stimulus package? Obamacare? Cash-for-Clunkers? Green energy scams like Solyndra, First Solar, Solar Trust, etc.? So the Obama campaign is busy churning out propaganda that disavows all the work he took credit for in 2009 and Nutting simply regurgitates it, like a good little Marxist.

No human being in world history has deficit-spent like Barack Obama. And everyone knows it, including Rex "Leni Riefenstahl" Nutting.

You wouldn't think that, after adding $5 trillion to the U.S.' debt, President Obama would seriously claim he's a fiscal hawk. But thanks to a misleading article on CBS' MarketWatch site, that's just what he's doing.

'Since I've been president, federal spending has risen at the lowest pace in nearly 60 years," Obama said on Wednesday. "Think about that."

Obama didn't turn to his own Office of Management and Budget to support this fact, or even the non-partisan Congressional Budget Office.

Instead, he went to a CBS MarketWatch column by Rex Nutting, which claims spending under Obama has risen by an average of just 1.4%.

"Federal spending," he wrote, "is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s."

Nutting even posted a chart to "prove" his case, which appears to show average annual spending hikes under Obama coming in well under that of his predecessors.

Not surprisingly, this "fact" lit up the left-wing blogosphere, with the White House quickly parading the article to dismiss GOP attacks.

There's just one problem. Nutting had it wrong... In fact, he made two significant mistakes that have the effect of hiding Obama's huge spending spree, mistakes that even Nutting's conservative critics missed...

IBD goes on to point out that, aside from the Stimulus scam and the litany of crap Obama pushed through a compliant Congress, TARP and GSE spending were incorrectly accounted for in Nutting's analysis. In other words, Nutting made giant mistakes, small mistakes, and everything in between.

MarketWatch had better, eh, watch itself. If it continues publishing trash like Nutting's excrement, it will become about as relevant as Daily Kos.